Skip to main content

Know the Status of Land

Invest In Tax Saving Mutual Funds Online

Call 0 94 8300 8300 (India)

 

You all know the price of land in India particularly in the metro’s .Isn’t it phenomenally high? In India isn’t land encroachment and land grabbing a common phenomenon? .Let us consider the city of Bangalore. A few years back the real estate mafia had grabbed even landfills. An area of 53 acres costing Crores of rupees was encroached upon. At least 35000 acres of land has been encroached upon such as government land, agricultural land, garbage land and even lakes. Even Lakes… You Must Be Shocked? .You must have heard of the Kadugodi Lake at Whitefield. This lake has a huge catchment area which is encroached upon .The water from this lake is extracted ,filled in tankers and sold to the residents of Whitefield at about INR 2000 per tanker. A new compound and a building have come up in the catchment area of the Kadugodi Lake .The water mafia has dug up a number of bore wells on the lakebed to extract water. Planting of Eucalyptus trees is done by these mafias in the catchment area’s whose roots suck up the water and turn the land barren. This land is then sold to commercial establishments. A number of concerned citizens have joined together and raised awareness about this problem. “Save Our Lakes Campaign” was launched by the esteemed citizens of Bangalore in order to protect the Kadugodi Lake and other lakes of Bangalore

 

Land Disputes And Land Grabbing: A Common Occurrence In Bangalore:

Let us consider the following case which had occurred in Bangalore a few months back .A J P Nagar Resident had relinquished his land for the Bangalore Metro Project. This property was part of the Bangalore Development Authority Layout and was measured at 1500 square foot .The city survey department then surveyed the land and measured it as 1530 square feet. The Karnataka Industrial Area Development Board agreed to compensate him for the excess land provided he got the BDA approval. We have the famous Balasubramanian report of the Karnataka task force for recovery and protection of public land, the “Laughing Waters” residential complex at Whitefield was built on 40 acres of stolen Government land with the original grant given for a Chicory plant. Similarly there are a number of cases in Bangalore where accurate land records do not exist. This leads to disputes of ownership and property.

A Stitch In Time Saves Nine:

In order to resolve the land encroachment problem the government has a grand plan to start surveying and creating records for all properties in Bangalore. The Urban Property Ownership Records are being implemented in Bangalore and the project will start at the beginning of next year. The Department of Survey, Settlements and Land Records will be in charge of this project. Under the UPOR each property will be surveyed, the records verified and the owner will be issued a property records card. A unique Plot ID will be assigned to each property .It will have details such as Plot area, Owner’s name, Mortgage Details, History Of Transactions, and an Overview map. Unlike the khatha and sale deed which are documents of property tax and registration, the Property Registration Card will establish the title to the property and is a solid document to establish ownership of the land.

How Will The Property Registration Card Work?

·         This card will have details of the Property liabilities, The property map, The property boundary, Details on the lease deed and so on. This project will be completed in about 3 years and about 16 Lakh properties will be registered. There would be disputes with about 30% of the cases .The remaining 70% will be issued the Property Registration Card.

·         The property card issuing process will involve leading banks so that the liability status of the property is up to date.

·         All the property data is computerized and this helps to eliminate fraud.

·         We have noticed rapid urbanization and development of the rural land areas in Bangalore. All villages on the border of the city are being converted to urban lands. This leads to confusion in property demarcation and boundary mapping. A property registration card will provide owners of all properties in the city a clear boundary demarcation of land and eliminate frauds.

·         Once this UPOR is in place no registration process can be done without handing over or showing the Property Registration Card. All details are available pertaining to the land in the property registration card. If the property is in an area where agricultural land has been used for non agricultural purposes without obtaining land conversion permission the PR card is still issued but the remarks section will mention the violation of the land. Nothing can be hidden from the buyer.

·         To get the property registration card the owner must provide the khatha (tax certificate) issued by the local body, Registration certificate issued by the Registration Department, Title deeds and other documents necessary during the Property Registration and Verification process in order to get the PR card. Those who do not have the necessary documentation will not get the PR cards.

·         Property Owners can buy cards at INR 400-500 depending on the size of the property. Houses in slum areas may be charged around INR 250 and high end areas an amount of INR 600.

 

The Bhoomi Project:

The Bhoomi project is the land record management project of Karnataka. This project is jointly sponsored by the State Government of Karnataka, Government of India, and the Ministry Of Rural Development. The project involves computerization of land records. This project has computerized 20 Million records of land ownership of 6.7 Million farmers in the State .Farmers can track and access this database and know the status of their land .The Rights, Tenancy and Crop Inspection Register can be obtained online by providing the name of the owner or plot number at the computerized land record kiosks in the 177 Taluk Offices for a fee of INR 15.If the revenue inspector does not complete the registration process within 45 days the farmer can approach a senior officer.

Important Features Of The Bhoomi Project:

·         An Excellent Software is available for printing records of land ownership.

·         Real time updating of RTC records keeps farmers updated on the position of their agricultural land.

·         A Biometric system for farmer land record data registration and updation is available mainly using fingerprint data.

·         The original records are scanned and the signatures of the Revenue Inspector are recorded and responsibility is fixed on the concerned Revenue Inspector not only by showing the original documents signed by him but a digital copy is also maintained.

·         Based on this software the topography of the land, land size, type of soils, types of crops grown is recorded and real time information is available for the administrators to take the necessary decisions.

·         We have computer centers where land mutation mainly records pertaining to transfer of title deeds to the buyer is done in an online fashion. We have finger print recording and scanning of the relevant documents.

·         We have land record kiosk from where the farmers can collect the relevant data by paying INR 15.Farmers can see their land related information without anybody’s aid or assistance.

 

The Role Of Bruhat Bangalore Mahanagara Palike:

·         The BBMP has developed a GIS (Geographic Information System) Based property tax system in the BBMP Jurisdiction area.

·         BBMP has provided a unique Property Identification Number (PID) to each and every property in Bangalore.

·         A unique street number has been assigned to each and every street.

·         BBMP has launched a web based search engine which will provide the PID for each property.

·         Updated systems to calculate property tax.

·         A khatha registration system has been implemented.

·         Online scanning and storing of Documents to maintain the authenticity of the certificates.

 

I would like to end this article with the famous saying” If Men Were Angels No Government Would Be Necessary”. You know that this is not true. Any opportunity to usurp land is taken with both hands. Wouldn’t it be prudent if we protect and safeguard our property using these online systems which the government has provided? So what are we waiting for? Let us get moving towards protecting our loved and prized land assets.

Happy Investing!!

We can help. Call 0 94 8300 8300 (India)

Leave your comment with mail ID and we will answer them

OR

You can write back to us at PrajnaCapital [at] Gmail [dot] Com

---------------------------------------------

Invest in Tax Saving Mutual Funds ( ELSS Mutual Funds ) to upto Rs 1 lakh and Save tax under Section 80C.

Invest Tax Saving Mutual Funds Online

Tax Saving Mutual Funds Online

These links can be used to Purchase Mutual Funds Online that are regular also (Investment, non-tax saving)

Download Tax Saving Mutual Fund Application Forms from all AMCs

Download Tax Saving Mutual Fund Applications

These Application Forms can be used for buying regular mutual funds also

Some of the best Tax Saving Mutual Funds available ( ELSS Mutual Funds )

  1. ICICI Prudential Tax Plan Invest Online
  2. HDFC TaxSaver Invest Online
  3. DSP BlackRock Tax Saver Fund Invest Online
  4. Reliance Tax Saver (ELSS) Fund Invest Online
  5. Birla Sun Life Tax Relief ‘96 Invest Online
  6. IDFC Tax Advantage (ELSS) Fund Invest Online
  7. SBI Magnum Tax Gain Scheme 1993 Invest Online
  8. Sundaram Tax Saver Invest Online
  9. Edelweiss ELSS Invest Online

------------------

Best Performing Mutual Funds

    1. Largecap Funds Invest Online
      1. DSP BlackRock Top 100 Fund
      2. ICICI Prudential Focused Blue Chip Fund
      3. Birla Sun Life Front Line Equity Fund
    2. Large and Midcap Funds Invest Online
      1. ICICI Prudential Dynamic Plan
      2. HDFC Top 200 Fund
      3. UTI Dividend Yield Fund
    1. Mid and SmallCap Funds Invest Online
      1. Reliance Equity Opportunities Fund
      2. DSP BlackRock Small & Midcap Fund
      3. Sundaram Select Midcap
      4. IDFC Premier Equity Fund
    1. Small and MicroCap Funds Invest Online
      1. DSP BlackRock MicroCap Fund
    1. Sector Funds Invest Online
      1. Reliance Banking Fund
      2. Reliance Banking Fund
    1. Tax Saver MutualFunds Invest Online
      1. ICICI Prudential Tax Plan
      2. HDFC Taxsaver
      3. DSP BlackRock Tax Saver Fund
      4. Reliance Tax Saver (ELSS) Fund
    2. Gold Mutual Funds Invest Online
      1. Relaince Gold Savings Fund
      2. ICICI Prudential Regular Gold Savings Fund
      3. HDFC Gold Fund

Popular posts from this blog

Tata Mutual Fund

Being a part of the Tata group, the fund has the backing of a very trusted brand name with strong retail connect. While the current CEO has done an excellent job in leveraging the Tata brand name to AMC's advantage, it is ironic that this was just not capitalised on at the start. Incorporated in 1995, Tata Mutual Fund remained an 'also-ran' fund house for around eight years. Till March 2003, it had a little over Rs 1,000 crore in assets and 19 AMCs were ahead of it. But soon after that the equation changed. It was the fastest growing fund house in 2004 and 2005. During these two years, it aggressively launched six equity funds, two debt funds and one MIP. The fund house as of now stands at No. 8 in terms of asset size. This fund house has a lot to offer by way of choice. And, it also has a number of well performing schemes. Tata Pure Equity, Tata Equity PE and Tata Infrastructure are all good funds. It also has quite a few good debt funds. The funds of Tata AMC are known to...
Read more

UTI Mutual Fund

Even though only a few of UTI’s funds are great performers, this public sector fund house has many advantages that its rivals do not. It has a huge base of retail equity investors and a vast distribution network. As a business, it looks stronger than ever, especially in the aftermath of credit crunch. UTI is, by a large margin, the most profitable fund company in the country. This is not surprising, since managing equity funds is more profitable than debt. Its conservative approach and stable parentage is likely to make it look more attractive to investors in times to come. UTI’s big problem is the dragging performance that many of its equity funds suffer from. In recent times, the management has made a concerted effort to improve performance. However, these moves have coincided with a disastrous phase in the stock markets and that has made it impossible to judge whether the overhaul will eventually be a success. UTI’s top performers are a few index funds, some hybrid funds and its inf...
Read more

Salary planning Article

1. The salary (basic + DA) should be low. The rest should come by way of such allowances on which the employer pays FBT and you don't pay any tax thereon. 2. Interest paid on housing loan is deductible u/s 24 up to Rs 1.5 lakh (Rs 150,000) on self-occupied property and without any limit on a commercial or rented house. 3. The repayment of housing loan from specified sources is also deductible irrespective of whether the house is self-occupied or given on rent within the overall ceiling of Rs 1 lakh of Sec. 80C. 4. Where the accommodation provided to the employee is taken on lease by the employer, the perk value is the actual amount of lease rental or 20 per cent of the salary, whichever is lower. Understandably, if the house belongs to a family member who is at a low or nil tax zone the family benefits. Yes, the maximum benefit accrues when the rent is over 20 per cent of the salary. 5. A chauffeur driven motor car provided by the employer has no perk value. True, the company would...
Read more

8 Investing Strategy

The stock market ‘meltdown’ witnessed since the start of 2005 (notwithstanding the recent marginal recovery) has once again brought to the forefront an inherent weakness existent in our markets. This is the fact that FIIs, indisputably and almost entirely, dominate the Indian stock market sentiments and consequently the market movements. In this article, we make an attempt to list down a few points that would aid an investor in mitigating the risks and curtailing the losses during times of volatility as large investors (read FIIs) enter and exit stocks. Read on Manage greed/fear: This is an important point, which every investor must keep in mind owing to its great influencing ability in equity investment decisions. This point simply means that in a bull run - control the greed factor, which could entice you, the investor, to compromise with your investment principles. By this we mean that while an investor could get lured into investing in penny and small-cap stocks owing to their eye-...
Read more

Debt Funds - Check The Expiry Date

This time we give you an insight into something that most debt fund investors would be unaware of, the Average Portfolio Maturity. As we all know, debt funds invest in bonds and securities. These instruments mature over a certain period of time, which is called maturity. The maturity is the length of time till the principal amount is returned to the security-holder or bond-holder. A debt fund invests in a number of such instruments and each of these instruments would be having different maturity times. Hence, the fund calculates a weighted average maturity, which would give a fair idea of the fund's maturity period. For example, if a fund owns three bonds of 2-year (Rs 30,000), 3-year (Rs 10,000) and 5-year (Rs 20,000) maturities, its weighted average maturity would be 3.17 years. What is the big deal about average maturity then, you may ask. Well, knowing a fund's average maturity is important because it tells you how sensitive a fund is to the change in interest rates. It is ...
Read more
Related Posts Plugin for WordPress, Blogger...
Invest in Tax Saving Mutual Funds Download Any Applications
Transact Mutual Funds Online Invest Online
Buy Gold Mutual Funds Invest Now